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Should You Use a Car Accident Settlement Calculator?

Car accident settlement calculators are not always accurate and do not take into account all the necessary expenses related to an accident.

car accident settlement calculator

When you are in a St. Louis car accident, and you are dealing with an insurance carrier to recover for damages or injuries, there is a point before a case has to go to trial called the litigation process. It is generally a time when the plaintiff works with the insurance carrier to find a fair settlement so that the case doesn’t have to proceed to trial. Since it is a complex process, and the insurance company does not have the plaintiff’s best interest at heart, it is in a person’s best interests to seek the help of a St. Louis car accident lawyer before agreeing to any settlement amount.

How Accurate Are Car Accident Settlement Calculators?

There are resources available to help those injured in car accidents get an estimate of how much they are rightfully owed for their injuries and damages. These  car accident settlement calculators, however, aren’t always accurate, and they don’t take into account all the necessary expenses related to the accident.

Estimates are only estimates. To-date, there aren’t any estimate calculators that can give you a figure with any real type of reality. The calculators work by using information that you input about your injuries and damages, and they base their estimates according to historical payouts that insurers have made in comparable accidents. The problem is that settlement calculators don’t always ask for all the pertinent information, nor do they take all things into account, which could leave a person taking a settlement for much less than they deserve.

How Do These Calculators Work?

Estimate calculators work by breaking down first the value of the property loss, or the damage done to the car. It takes into account factors like depreciation, the car’s condition, and how many miles the car has. The reality is that the value of a car is rarely as simple as an equation.

The second component is to calculate your injuries according to how much people with similar injuries have been awarded in the past. Since no two injuries are the same, nor are they experienced in the same manner, using a calculator will not get you a fair compensation number for your injuries. It also won’t anticipate any further medical treatment that you may need or any consequences that may arise in the future.

Why Speak With an Attorney?

If you are in the process of deciding whether you should settle out of court, or if the settlement amount that you are being offered is fair, then using a settlement calculator is not in your best interests. It is always best to have an experienced injury attorney help you through the litigation process to ensure that you are getting what is rightfully yours and not walking away with money on the table, or left bearing the additional expenses. No one wants to have to go to trial, but there are times when pushing it further is not only reasonable but necessary.

Get in touch with an experience St. Louis car accident attorney 24/7 at The Hoffmann Law Firm, L.L.C. by calling (314) 361-4242 and requesting a FREE case evaluation.
Updated: March 30, 2018